Companies in the Aircraft Engines Market Resorting to Product Innovation to Stay Ahead in the Game

Aircraft engines are primary propulsion devices that produce the necessary thrust to generate lift for the aircraft to fly. These engines were synonymous in design to reciprocating engines used in automobiles but in the present world, a shift from reciprocating engines to jet engines has been observed.

Turbofan engines are the most common type of jet engines used in commercial aircraft, owing to their high bypass ratio and fuel efficiency. Manufacturers of aircraft engines are continuously engaged in innovating such systems in order to reduce the overall weight and improve fuel efficiency and performance.

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FACTS AT A GLANCE

Companies: Continental Motors Group,Safran Aircraft Engines,General Electric Co.,Pratt & Whitney (United Technologies Corporation),IAE International Aero Engines AG,United Engine Corporation,Rolls-Royce plc,Motor Sich JSC,AVIC Aircraft Corporation Ltd.,Aero Engine Corporation of China,MTU Aero Engines AG,Barnes Group Inc.,Honeywell International Inc.

Coverage: All major geographies and key segments

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Segments: Aircraft Engines Market Segmented By product type such as Turbofan, Turboshaft, Turboprop and Piston Based with sales channel such as Line Fit and Retro Fit

Geographies: North America (U.S., Canada),Latin America (Mexico, Brazil, Argentina, Chile, Peru),Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe),CIS and Russia,Asia-Pacific (China, India, ASEAN, South Korea),Japan,Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)

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ABSTRACT-

Air travel has increased considerably over the years. A large chunk of population, with high disposable income, now finds travelling through flights an affordable option, which is pushing airline carriers to increase their fleet size to cater to this demand. This factor is one of the primary factors driving growth of the aircraft engines market as airline carriers are increasingly ordering more and more aircraft.

Air pollution caused by the exhaust fumes generated after the combustion of fuel in aircraft engines is a pressing concern acknowledged by government bodies across various economies. Hence, aircraft engine manufacturers are striving to manufacture fuel efficient and less polluting engines.

Aircraft engines are cost intensive products, which can prove to be a challenge for manufacturers and the growth of the aviation industry alike. The market is also dependent on the number of orders placed by airline carriers. High number of orders can strain the productivity of aircraft OEMs, thereby restraining growth of the market over the forecast period. Additionally, highly skilled personnel are required to manufacture as well as maintain aircraft engines, which increases the cost of investment and consequently, acts as a roadblock to the growth of the aircraft engine market.

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This release was published on openPR.